Robinhood has partnered with Kalshi to introduce a betting markets hub. This platform permits users to trade contracts associated with the Federal Reserve’s target interest rates and major college basketball events.

After the announcement, Robinhood’s stock, HOOD, increased approximately 8% on the Nasdaq, highlighting the market’s positive reaction. The new betting feature signifies Robinhood’s expansion into emerging asset classes.

JB Mackenzie, Robinhood’s VP, emphasized the role of prediction markets in capturing public sentiment across various fields, suggesting their growing relevance in today’s economic landscape.